Micromet, Inc. Appoints Barclay Phillips as Senior Vice President and Chief Financial...

Micromet, Inc. Appoints Barclay Phillips as Senior Vice President and Chief
Financial Officer

BETHESDA, Md., Sept. 2 /PRNewswire-FirstCall/ -- Micromet, Inc. (Nasdaq:
MITI) ("Micromet" or the "Company"), a biopharmaceutical company developing
novel, proprietary antibodies for the treatment of cancer, inflammation and
autoimmune diseases, today announced the appointment of Barclay A. Phillips as
Senior Vice President and Chief Financial Officer. Mr. Phillips has served as
a member of the Company's board of directors since 2000, and was the chair of
the nominating & corporate governance committee and a member of the audit
committee. In connection with his joining the executive management team of
Micromet, Mr. Phillips has resigned from the board and the committees he
served on.
"We are very excited to have Buck Phillips become a member of our
executive management team," commented Christian Itin, President and Chief
Executive Officer, and a member of Micromet's Board. "While he served on the
board of directors, Buck has gained intimate knowledge of our business, the
development programs and the management team he is now joining. His financial
and industry experience will be invaluable in continuing the high standard for
the management of the financial affairs of Micromet that he has helped set as
a member of our audit committee. We thank Buck for his service on the board,
and look forward to his leadership and contributions in the development and
implementation of our financing and business strategies."
"I have had the opportunity to work with and invest in many biotechnology
companies. I believe Micromet is unique in terms of the breadth of its
proprietary technology, its clinical validation as evidenced by the recent
article in Science magazine, and its strong management team," stated Mr.
Phillips. "I look forward to the next chapter in my long-term relationship
with the Company."
Mr. Phillips served as a member of the Company's board of directors since
December 2000. From 1999 to August 2008, Mr. Phillips has been a Managing
Director of Vector Fund Management. From 1991 to 1999, Mr. Phillips served in
various roles including Director of Private Placements and Biotechnology
Analyst for INVESCO Funds Group, Inc. From 1985 to 1990, Mr. Phillips held
positions in sales and trading with Paine Webber, Inc. and Shearson Lehman
Hutton, Inc. Over the last ten years, Mr. Phillips has held board positions
for a number of public and private life sciences companies and currently
serves as a director of Acorda Therapeutics, Inc., a publicly traded
biopharmaceutical company. Mr. Phillips received a B.A. in economics from the
University of Colorado in Boulder.
About Micromet, Inc. (www.micromet-inc.com)
Micromet, Inc. (http://www.micromet-inc.com) is a biopharmaceutical
company developing novel, proprietary antibodies for the treatment of cancer,
inflammation and autoimmune diseases. Four of its antibodies are currently in
clinical trials, while the remainder of the product pipeline is in preclinical
development. The BiTE(R) antibody blinatumomab (MT103/MEDI-538) is in a phase
2 clinical trial for the treatment of patients with acute lymphoblastic
leukemia and in a phase 1 clinical trial for the treatment of patients with
non-Hodgkin's lymphoma. BiTE antibodies represent a new class of antibodies
that activate a patient's own cytotoxic T cells, considered the most powerful
"killer cells" of the human immune system, to eliminate cancer cells. Micromet
is developing blinatumomab in collaboration with MedImmune, Inc., a subsidiary
of AstraZeneca plc. MT110 is the second BiTE antibody in clinical trials, and
is being developed by Micromet in a phase 1 clinical trial for the treatment
of patients with lung or gastrointestinal cancer. The third clinical stage
antibody is adecatumumab, also known as MT201, a human monoclonal antibody
that targets epithelial cell adhesion molecule (EpCAM)-expressing solid
tumors. Micromet is developing adecatumumab in collaboration with Merck Serono
in a phase 1b clinical trial evaluating adecatumumab in combination with
docetaxel for the treatment of patients with metastatic breast cancer. The
fourth clinical stage antibody is MT293 which is licensed to TRACON
Pharmaceuticals, Inc. and is being developed in a phase 1 clinical trial for
the treatment of patients with cancer. Three additional BiTE antibodies,
targeting CD33, CEA and MCSP, respectively, are in preclinical development. In
addition, Micromet has established a collaboration with Nycomed for the
development and commercialization of MT203, a human antibody neutralizing the
activity of granulocyte/macrophage colony stimulating factor (GM-CSF), which
has potential applications in the treatment of various inflammatory and
autoimmune diseases, such as rheumatoid arthritis, psoriasis, or multiple
sclerosis.
Forward-Looking Statements
This release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to be materially
different from historical results or from any future results expressed or
implied by such forward-looking statements. These forward-looking statements
include statements regarding the efficacy, safety and intended utilization of
our product candidates, the development of our BiTE antibody technology, the
conduct, timing and results of future clinical trials, expectations of the
future expansion of our product pipeline and collaborations, and our plans
regarding future presentations of clinical data. You are urged to consider
statements that include the words "ongoing," "may," "will," "believes,"
"potential," "expects," "plans," "anticipates," "intends," or the negative of
those words or other similar words to be uncertain and forward-looking.
Factors that may cause actual results to differ materially from any future
results expressed or implied by any forward-looking statements include the
risk that product candidates that appeared promising in early research,
preclinical studies or clinical trials do not demonstrate safety and/or
efficacy in subsequent clinical trials, the risk that encouraging results from
early research, preclinical studies or clinical trials may not be confirmed
upon further analysis of the detailed results of such research, preclinical
study or clinical trial, the risk that additional information relating to the
safety, efficacy or tolerability of our product candidates may be discovered
upon further analysis of preclinical or clinical trial data, the risk that we
or our collaborators will not obtain approval to market our product
candidates, the risks associated with reliance on outside financing to meet
capital requirements, and the risks associated with reliance on collaborators,
including MedImmune, Merck Serono, TRACON and Nycomed, for the funding or
conduct of further development and commercialization activities relating to
our product candidates. These factors and others are more fully discussed in
Micromet's Annual Report on Form 10-K for the fiscal year ended December 31,
2007, filed with the SEC on March 14, 2008, as well as other filings by the
company with the SEC.
Any forward-looking statements are made pursuant to Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, and, as such, speak only as of the date made.
Micromet, Inc. undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
SOURCE Micromet, Inc.

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